The SEC has spent a considerable time in court on crypto matters, and its record of judgements is – so far – a mixed bag. It lost badly in disputes with Ripple and Grayscale (leading to the approval of spot bitcoin exchange-traded funds), but it’s prevailed in others, including a recent ruling in an insider-trading case tied to a former Coinbase employee. In that case, a judge in the U.S. District Court for the Western District of Washington decided the crypto assets in that matter were unregistered securities.
Source: https://www.coindesk.com/policy/2024/03/11/coinbase-accuses-us-sec-of-breaking-the-law-in-rejecting-crypto-rulemaking/?utm_medium=referral&utm_source=rss&utm_campaign=headlines